AVON, CONN. — Cronheim Mortgage has arranged $24 million in permanent financing for Avon Marketplace, a regional lifestyle center in Avon. The 10-year loan includes five years of interest only payment and a 30-year amortization schedule. Dev Morris and Andrew Stewart of Cronheim arranged the loan on behalf of Avon Marketplace Investors LLC. Avon Marketplace is owned and managed by an affiliate of David Adam Realty, a local operator of shopping centers. Built in the early 1990s, the property includes two freestanding buildings totaling 79,107 square feet on 17.3 acres. Avon Marketplace was fully occupied by 17 tenants at the time of sale, including ULTA, Gap, Eastern Mountain Sports, New Balance, Victoria's Secret, Starbucks Coffee and Verizon Wireless.
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